Can I retire at age 74 with 968,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$79,937$79,225$78,530$77,852$77,190$76,575
2 years$39,573$38,836$38,121$37,429$36,757$36,137
3 years$26,120$25,379$24,667$23,981$23,320$22,715
4 years$19,395$18,657$17,951$17,277$16,632$16,046
5 years$15,360$14,627$13,931$13,270$12,643$12,078
6 years$12,672$11,944$11,258$10,612$10,004$9,460
7 years$10,752$10,031$9,356$8,725$8,136$7,613
8 years$9,313$8,598$7,934$7,319$6,750$6,249
9 years$8,195$7,486$6,834$6,234$5,684$5,204
10 years$7,300$6,599$5,958$5,374$4,843$4,385
11 years$6,569$5,874$5,245$4,677$4,165$3,728
12 years$5,960$5,273$4,655$4,102$3,610$3,192
13 years$5,445$4,765$4,159$3,622$3,148$2,750
14 years$5,004$4,331$3,737$3,215$2,759$2,381
15 years$4,622$3,957$3,374$2,867$2,429$2,071
16 years$4,289$3,630$3,059$2,567$2,147$1,807
17 years$3,994$3,343$2,783$2,307$1,904$1,581
18 years$3,733$3,089$2,541$2,079$1,693$1,388
19 years$3,500$2,863$2,326$1,878$1,509$1,220
20 years$3,290$2,660$2,135$1,701$1,348$1,075
21 years$3,100$2,478$1,964$1,544$1,206$949
22 years$2,928$2,313$1,810$1,404$1,081$839
23 years$2,771$2,164$1,671$1,278$970$742
24 years$2,628$2,027$1,545$1,166$872$658
25 years$2,496$1,902$1,431$1,065$785$583
26 years$2,374$1,788$1,327$974$707$518
27 years$2,262$1,683$1,233$891$637$460
28 years$2,157$1,586$1,146$817$575$409
29 years$2,061$1,496$1,066$749$519$364
30 years$1,970$1,413$993$687$469$324
31 years$1,886$1,335$926$631$424$288
32 years$1,807$1,264$864$580$384$257
33 years$1,734$1,197$807$533$347$229
34 years$1,664$1,134$754$491$314$204
35 years$1,599$1,076$705$452$285$182
36 years$1,537$1,021$659$416$258$162
37 years$1,479$970$617$383$234$144
38 years$1,425$922$578$353$212$129
39 years$1,373$876$541$326$192$115
40 years$1,323$834$507$301$174$103
41 years$1,277$794$476$277$158$92
42 years$1,232$756$446$256$144$82
43 years$1,190$720$419$236$130$73
44 years$1,150$686$393$218$118$65
45 years$1,112$655$369$201$107$58
46 years$1,075$624$347$186$97$52
47 years$1,041$596$326$172$89$46
48 years$1,007$569$306$159$80$41
49 years$976$543$288$147$73$37
50 years$945$519$270$136$66$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 74 starting with $968,000, adding $3,372 every year, while hoping to spend $24,308 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 26/48/26 Blend
73$968,000$968,000$968,000$968,000
74$1,070,214$1,018,910$1,003,906$1,089,235
75$1,153,513$1,042,973$1,011,674$1,129,029
76$1,244,493$1,067,401$1,018,886$1,169,382
77$1,343,912$1,092,185$1,025,500$1,212,174
78$1,452,606$1,117,316$1,031,469$1,257,626
79$1,571,492$1,142,785$1,036,744$1,305,983
80$1,701,582$1,168,580$1,041,273$1,357,516
81$1,843,991$1,194,687$1,045,002$1,412,522
82$1,999,943$1,221,092$1,047,875$1,471,331
83$2,170,791$1,247,779$1,049,833$1,534,304
84$2,358,020$1,274,729$1,050,811$1,601,844
85$2,563,270$1,301,923$1,050,745$1,674,390
86$2,788,345$1,329,338$1,049,566$1,752,431
87$3,035,231$1,356,951$1,047,202$1,836,505
88$3,306,118$1,384,735$1,043,576$1,927,204
89$3,603,416$1,412,661$1,038,610$2,025,184
90$3,929,781$1,440,697$1,032,220$2,131,168
91$4,288,137$1,468,811$1,024,318$2,245,953
92$4,681,708$1,496,963$1,014,814$2,370,419
93$5,114,043$1,525,115$1,003,610$2,505,537
94$5,589,052$1,553,222$990,608$2,652,379
95$6,111,043$1,581,238$975,701$2,812,127
96$6,684,763$1,609,112$958,780$2,986,087
97$7,315,439$1,636,789$939,730$3,175,697
98$8,008,833$1,664,210$918,430$3,382,546
99$8,771,290$1,691,313$894,753$3,608,387
100$9,609,802$1,718,028$868,569$3,855,155